Sectors

Chinese giant CREC is preferred builder for Helsinki-Tallinn tunnel

The man planning to build an undersea train tunnel between the Finnish capital Helsinki and the Estonian capital Tallinn has said he wants China Railway Group Ltd (CREC) to build it.

“This week, we are signing a letter of intent with the Chinese CREC, the world’s largest construction company,” said entrepreneur Peter Vesterbacka, whose group, FinEstBay Area Development, is promoting the estimated $20bn scheme.

Vesterbacka said the Chinese construction giant specialised in railway projects and had built over 18,000km of railway tunnels in China.